NVIR vs. AMJB

Last updated Jun 4, 2026

NVIR (Horizon Kinetics Energy Remediation ETF) and AMJB (Alerian MLP Index ETN) are both Energy Equities funds. NVIR is actively managed, while AMJB is passively managed. Over the past year, NVIR returned 34.67% vs 15.68% for AMJB. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.85% expense ratio.

Performance

NVIR vs. AMJB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Energy Remediation ETF (NVIR) and Alerian MLP Index ETN (AMJB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVIR achieves a 22.17% return, which is significantly higher than AMJB's 17.69% return.

NVIR

• 1D: 0.66%
• 1M: -1.59%
• YTD: 22.17%
• 6M: 19.29%
• 1Y: 34.67%
• 3Y*: 19.49%
• 5Y*: —
• 10Y*: —

AMJB

• 1D: 1.62%
• 1M: -1.98%
• YTD: 17.69%
• 6M: 15.52%
• 1Y: 15.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NVIR vs. AMJB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVIR Horizon Kinetics Energy Remediation ETF	22.17%	9.84%	17.40%
AMJB Alerian MLP Index ETN	17.69%	1.36%	10.85%

Correlation

The correlation between NVIR and AMJB is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 29, 2024	0.57

The correlation between NVIR and AMJB has been stable across timeframes, ranging from 0.52 to 0.57 - a consistent structural relationship.

Return for Risk

NVIR vs. AMJB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NVIR

NVIR Risk / Return Rank: 70
NVIR Sharpe Ratio Rank: 66
NVIR Sortino Ratio Rank: 62
NVIR Omega Ratio Rank: 62
NVIR Calmar Ratio Rank: 87
NVIR Martin Ratio Rank: 75

AMJB

AMJB Risk / Return Rank: 30
AMJB Sharpe Ratio Rank: 29
AMJB Sortino Ratio Rank: 28
AMJB Omega Ratio Rank: 26
AMJB Calmar Ratio Rank: 33
AMJB Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NVIR vs. AMJB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Energy Remediation ETF (NVIR) and Alerian MLP Index ETN (AMJB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NVIR	AMJB	Difference
Sharpe ratio Return per unit of total volatility	2.18	1.03	+1.15
Sortino ratio Return per unit of downside risk	2.88	1.52	+1.37
Omega ratio Gain probability vs. loss probability	1.37	1.18	+0.19
Calmar ratio Return relative to maximum drawdown	4.95	1.60	+3.35
Martin ratio Return relative to average drawdown	14.32	4.73	+9.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVIR vs. AMJB - Sharpe Ratio Comparison

The current NVIR Sharpe Ratio is 2.18, which is higher than the AMJB Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of NVIR and AMJB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVIR	AMJB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.03	+1.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.70	+0.20

Drawdowns

NVIR vs. AMJB - Drawdown Comparison

The maximum NVIR drawdown since its inception was -22.47%, which is greater than AMJB's maximum drawdown of -17.70%. Use the drawdown chart below to compare losses from any high point for NVIR and AMJB.

Drawdown Indicators

	NVIR	AMJB	Difference
Max Drawdown Largest peak-to-trough decline	-22.47%	-17.70%	-4.77%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-9.90%	+2.86%
Max Drawdown (3Y) Largest decline over 3 years	-22.47%	—	—
Current Drawdown Current decline from peak	-3.08%	-6.06%	+2.98%
Average Drawdown Average peak-to-trough decline	-4.58%	-4.98%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	3.34%	-0.91%

Volatility

NVIR vs. AMJB - Volatility Comparison

Horizon Kinetics Energy Remediation ETF (NVIR) and Alerian MLP Index ETN (AMJB) have volatilities of 5.78% and 5.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVIR	AMJB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	5.66%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	12.26%	12.18%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	15.37%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.24%	18.19%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.24%	18.19%	+1.05%

NVIR vs. AMJB - Expense Ratio Comparison

Both NVIR and AMJB have an expense ratio of 0.85%.

Dividends

NVIR vs. AMJB - Dividend Comparison

NVIR's dividend yield for the trailing twelve months is around 0.75%, while AMJB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
AMJB Alerian MLP Index ETN	0.00%	0.00%	0.00%	0.00%
NVIR Horizon Kinetics Energy Remediation ETF	0.75%	0.92%	1.50%	1.34%

Frequently Asked Questions

Can I hold both NVIR and AMJB in my portfolio?

NVIR and AMJB have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVIR or AMJB?

NVIR has higher volatility (5.78%) compared to AMJB (5.66%). In terms of maximum drawdown, NVIR dropped -22.47% vs AMJB's -17.70%.

Which ETF is better, NVIR or AMJB?

On 1-year performance, NVIR leads with 34.67% vs 15.68% for AMJB. Both ETFs have the same 0.85% expense ratio. On volatility, AMJB has been the lower-risk option at 5.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVIR or AMJB?

Over the 1-year period, NVIR has performed better with a 34.67% return vs 15.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVIR or AMJB?

NVIR and AMJB have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, NVIR or AMJB?

NVIR has the higher dividend yield at 0.75%, compared with 0.00% for AMJB.

What is the main difference between NVIR and AMJB?

They also come from different issuers: Horizon and JPMorgan.

Which has better risk-adjusted returns?

NVIR currently has the higher Sharpe Ratio (2.18 vs 1.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.